PHILIPPINES

CURRENCY: Peso (P).

EXCHANGE RATE: Peso 26.37 = US$1.

OFFICIAL LANGUAGE: Pilipino, English, Spanish.

POPULATION: 70,000,000.

CAPITAL: Manila.

INTERNATIONAL CODE: TELEPHONE: 63.

CURRENCY CONTROLS: The Peso may be imported and exported in amounts up to P10,000.Larger amounts require authorization from the Bangko Sentral ng Pilipinas.Foreign currencies may be freely imported.The export of foreign currencies is free provided they are not foreign exchange obtained from the banking system.Unspent pesos up to a maximum of US$200 or and equivalent amount in other currencies calculated at prevailing exchange rates may be reconverted at airports or other ports of exit of without showing proof of previous sale of foreign exchange.Gaming winnings may be exported with appropriate documentation.

GAMING INFORMATION: At the present time there are 12 casinos in the Philippines owned and operated by the Philippine Amusement and Gaming Corporation (PAGCOR).

PAGCOR operates one each in: Angeles, Bacolod, Davao, Laoag, Olongapo, and Tagaytay; three in Cebu, and three in Manila.The Philippines' 13th and 14th casinos are operated by Metroplex Bhd (Malaysia), under a private government license, in the Subic Bay Special Economic Zone.A 15th casino is under private government license at the Mimosa Resort in the Clark Field Special Economic Zone.Other PAGCOR and private license casinos are in the planning stage.PAGCOR was created in 1977 as a government institution for the purpose of regulating and centralizing all games of chance in the Philippines.PAGCOR has "the right and the privilege to operate and maintain the gambling casinos, clubs and other recreational amusement places, sports, gambling pools, whether on land or sea, within the territorial jurisdiction of the Philippines".The Board of Directors includes prominent individuals in economics and government.The gaming age is 21 years or older.Eighty percent of the play comes from Philippine nationals.The 20% foreign play is predominately from Hong Kong, Taipei, and Japan.Junkets are offered from many Asian countries.

For additional information about gaming in the Philippines contact: PAGCOR, Pagcor House, 1330 Roxas Blvd., Ermita, Manila 1000.

Tel: (02) 5211542.

Fax: (02) 522-2969 or 521-1549.